Many brands, including Coca-Cola, Nike and Disney, are creating experiences in the Metaverse, yet the virtual space remains a rather nebulous concept. It’s far from fully understood, even to the most eager stakeholders, and there’s a long way to go before the potential applications of virtual worlds come into focus.
Caitlyn Ryan, EMEA VP of Meta’s Creative Shop, has defined the Metaverse as “a set of virtual spaces where you can create and explore with people who aren’t in the same physical space as you.” In summary, it’s an immersive platform where people can collaborate, socialise and become part of a shared experience. With reports suggesting that the total value of the Metaverse is forecast to hit $36 bn by 2025, it’s no surprise that business leaders are keen to understand its true capacity.
Amid the hype and potential, there’s a lot of work to be done to establish the fundamentals that will make the Metaverse a safe experience for all. In particular...